Safex Development Update November 6, 2017


#21

I love this community. Good group of peeps.


#22

I see MARKET coin (MKT)… Simple and say what it has to say.

Go SAFEX!


#23

I like the SafexCredit idea.This name still connects the coins but also explains what it is and encourages adoption. People will buy credits to get goods.


#24

Can a coin name be a single letter? I like X. The X coin sounds iconic. Along with the Safe - Vault concept when you are looking for treasure X always marks the spot.


#25

Why not just call it money?


#26

IMO, the “native” coin usually has the same name as the blockchain that creates it.

Here’s why…

There are 1265 crypto coins on the market, and more coming in the future. Having the exact same name for the (coin) and (blockchain) tells people where it came from, and more importantly, where it can be spent.

I cannot stress this enough. Please, please, please use the same name for the native coin and the blockchain. It will prevent a lot of confusion.

If we name the blockchain “Safe Exchange” then also name the native currency “Safe Exchange Coin.” Intuitively, the ticker symbol would be SEC.

Side Note: There was an issue with ticker SEC. Some people confuse it with Securities Exchange Commission, which may carry a negative perception. But acronyms always overlap each other. In crypto space people will know exactly what SEC means. Plus, SEC it is still available on coinmarketcap.

Rename the current “Safex Exchange Coin” to “Safe Exchange Token” and keep the same ticker symbol (SAFEX) to avoid confusing current holders and traders.

TLDR:

Blockchain Name: Safe Exchange
Blockchain Coin: Safe Exchange Coin (SEC)
Blockchain Share: Safe Exchange Share (SAFEX)

This suggestion is not perfect, but it is simple and effective going forward without damaging the way things are currently. The ticker symbol for Safe Exchange Coin is negotiable as long as the name itself remains the same as the blockchain.

Update

Changed suggestion from “Safe Exchange Tokens” to “Safe Exchange Shares”.
Shorten Version: Safex, Safex Coins, and Safex Shares.


#27

Bazaar Coin

Bazaar definition

  1. a marketplace or shopping quarter, especially one in the Middle East.
  2. a sale of miscellaneous contributed articles to benefit some charity, cause, organization, etc.
  3. a store in which many kinds of goods are offered for sale; department store.

Maybe even Barter coin but is it possible to just swap goods on Safex Blockchain?

I think a name which can be easily associated with the marketplace concept would work best, especially in the long run with a commonly used word which will then associate people with Safex Blockchain rather than a potential competitor simply based on the coin name choice.


#28

It’s tricky. You are right. But having a Safe Exchange Coin and a Safe Exchange Token is confusing to new investors. It lacks clarity.

It may also be missing an opportunity for “cool crypto name” marketing, for lack of a better phrase.


#29

If I am not mistaken, the official currency of Liberland is ‘Merrits’. This might change, but for now one can already purchase them on the Liberland.org website.


#30

Adding to this… Although it is great to have Liberlands support on this project and in return supporting their vision, I do not think its a good idea to name the market coin after Liberland in some way. Doing this could give the wrong impression regarding the purpose of the marketplace. It should be its own project and have its own name, not directly linking itself to any already existing projects.


#31

I agree. And as for the “token” can also be used on the marketplace to pay with, the word “token” might not appeal to common people.

How about avoiding the word “coin” and “token”. almost every crypto currency has the word coin in it. I like Digibyte for example, they are not using “coin” and tried to brand something new. I think it would be strong to come up with a new currency name. If we can’t think of something, there are a lot of commonly used currency names which are used by multiple nations, like Dollar, Peso, Pound, Dinero. We can get some inspiration from that. see full list at: https://en.wikipedia.org/wiki/List_of_currencies. Something like that is easy for branding and might be more appealing to new people. Also the “Trade Dollar” is in the list.

Something like Safex Trade Dollars? Or Safex Dinero?
The abbreviation STD might be a little weird though.
Or maybe use some ancient coin name .

Blockchain Name: Safe Exchange
Marketplace Name: The Safe Exhange, (or Safex Market, or Safex Bazaar, but that is a bit dual because Safex already has the word Exchange in it), or SafeExpress
Blockchain/Marketplace Coin: Safe Exchange Trade Dollar (SD, or SETD)
Blockchain Investor Token: Safe Exchange Tender (SAFEX) good one @parlaygambler

“Tender” also means something like a registration. Which could refer to being part of the company as an investor, and also sellers will need those create a trusted profile, right? :slight_smile:

I have some doubts if people will recognize Tender as money though …

just some thoughts …


#32

Thanks buddy, I did not realize that.


#33

Agreed,

We could rename it to “Safe Exchange Investor Token” to add more clarity. This token will grant voting rights and dividends from the marketplace.

However, some countries (USA) will classify this as a securities instrument which is a hassle for new investors and exchanges. Subtle might be the better route for now?


#34

I like safex credits, safex dividends, something like that


#35

Might be a bit on the nose but ‘Safex Shares’? …its pretty self explanitory. Unless there is a reason we are deliberately avoiding thinking of them as shares? …Then I like what was said before about calling the marketplace ‘The Safe Exchange’


#36

lol…I came on here to share an idea and StrangeCharm just stated it. “Safex Shares” is the most simplistic and makes a ton of sense to a newbie.

Safex Blockchain

The Safe Exchange (Marketplace)

Safex Shares --> (automatically implies ownership and is easy for people to understand that they will be paid dividends based on the number of shares/% of Safex ownership they hold)

Safex Coins/Tokens/etc --> The name of the currency on the Safex Exchage

It will be much easy to create brand awareness this way and will be easy for all to understand how each relates to the other.


#37

I see many people suggest a different name for the marketplace currency. I stilll think it should have the word SAFE in it to make it clear to them that it belongs to the same crypto.

How bout

SafeFund (for dividend earning)
or SafeShare
SafeX (for spending coin)


#38

I like the sound of “Safex Shares”, and it is very clear to a newbie investor/stake holder.


#39

The problem with renaming existing Safex is that it’s already in all the exchanges. We don’t want to upset them with a bunch of code updates.

I like the sound of Safex Credits, or even just credits.


#40

Me too, and Safex coins are indeed coins